Auto Repair Retail-Workshop
For Sale
Contact for pricing
728 Leipsic Rd, Dover, DE 19901
Retail/workshop building configured for auto repair with on-site parking and Highway Commercial zoning for flexible service uses.
Property Size5,455 SF
Lot Size0.79 Acres
Price / SF$247.48
Days on Market60
Property Features for 728 Leipsic Rd
General Information
Standard status
Active
Size
5,455 SF
Lot size
0.79 Acres
Property subtype
Retail, Business for Sale
Zoning
Highway Commercial
Listing Agency:
The Commercial Moving Experience Real Estate
Listed By:
Jeff Spiegelman · License #DE RS-0025326
Source:
Crexi
Added: Jun 8
Changed: Jul 10
Last Checked: Aug 5 at 1:12PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Commercial Moving Experience Real Estate
Investment Insights
Based on property information with market context.
The property consists of approximately 0.79 acres improved with a 5,455± SF retail/workshop building currently configured for auto repair. The existing layout supports service-oriented operations from a dedicated building footprint, making it straightforward for an owner-operator or a tenant seeking automotive-related work space. On-site parking is available for customers and staff.
Located at 728 Leipsic Rd. in Dover, Delaware, the site is positioned just one lot off Route 13, providing convenient access and visibility along the primary commercial corridor. The property benefits from a high-traffic trade area and is surrounded by a mix of major national retailers, hospitality, banking, and regional destinations.
Highway Commercial zoning supports a wide range of commercial uses, which can be advantageous for automotive, service retail, showroom, contractor, or redevelopment scenarios. With its established automotive-oriented configuration and convenient corridor access, the building can fit businesses that need both a storefront presence and a functional service/workshop component on a parking-supported site.
Located at 728 Leipsic Rd. in Dover, Delaware, the site is positioned just one lot off Route 13, providing convenient access and visibility along the primary commercial corridor. The property benefits from a high-traffic trade area and is surrounded by a mix of major national retailers, hospitality, banking, and regional destinations.
Highway Commercial zoning supports a wide range of commercial uses, which can be advantageous for automotive, service retail, showroom, contractor, or redevelopment scenarios. With its established automotive-oriented configuration and convenient corridor access, the building can fit businesses that need both a storefront presence and a functional service/workshop component on a parking-supported site.
Key Highlights
- Approximately 0.79‑acre site with a 5,455± SF retail/workshop building configured for auto repair
- Located at 728 Leipsic Rd., Dover, DE 19901, just one lot off Route 13
- Highway Commercial zoning supporting a wide range of commercial uses, including automotive and service retail
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$61,134
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,222,680
$1.2M
Cap Rate 7%
$873,343
$873.3K
Cap Rate 9%
$679,267
$679.3K
Market Conditions
NOI Build-Up for 5,455 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$89.0K $16.32/SF
− Vacancy
−$1.7K −$0.31/SF
EGI
$87.3K $16.01/SF
− OpEx
−$26.2K −$4.80/SF
NOI
$61.1K $11.21/SF
Area
Kent County, DE
Vacancy
1.90%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,222,680
Cap Rate 7%
$873,343
Cap Rate 9%
$679,267
Alternative Uses
Best Use
Industrial
$873.3K
$764.2K – $1.02M
NOI $61,134 @ 7.0% cap · market cap 4.53%
Second Best
Retail
$708.4K
$619.9K – $826.5K
NOI $49,591 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $96,152 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
147
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19901, DE
36,839
Population
15,443
Households
2.4
Avg Household Size
34
Median Age
27%
College-Educated
89%
High-School Grad
75.8 sq mi
ZIP Area
486
Density / Sq Mi
$63,891
Median Household Income
$33,069
Median Earnings
$1,353
Median Rent
$258,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Sears Auto Center — 1000 dover mall, us-13, dover, de 19901
- Valvoline Instant Oil Change — 710 N Dupont Hwy, Dover, DE 19901
- Pep Boys — 919 N Dupont Hwy, Dover, DE 19901
- Pugh's Automotive Service — 728 Leipsic Rd, Dover, DE 19901
- Doves Service INC — 841 Silver Lake Blvd, Dover, DE 19901
Frequently Asked Questions
What type of property is this?
Auto shop - Retail/workshop building configured for auto repair with on-site parking and Highway Commercial zoning for flexible service uses.
Where is this auto shop located?
The property is located at 728 Leipsic Rd Dover, DE.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Approximately 0.79‑acre site with a 5,455± SF retail/workshop building configured for auto repair; Located at 728 Leipsic Rd., Dover, DE 19901, just one lot off Route 13; Highway Commercial zoning supporting a wide range of commercial uses, including automotive and service retail
